Things to Consider

Here you will find some useful tips that you should consider before buying any item on finance.

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Benefits & Negatives

When it comes to shopping online and on finance for an electrical product there are a number of benefits and negatives. Many of the benefits are fairly obvious such as getting the product now even when you can't currently afford it. Being able to pay back what you owe in monthly or weekly installments is also a big plus.

Other benefits include the efficiency that shopping online brings. You don't have to walk, drive or park anywhere, you simply browse through an online store from the comfort of your own home, and can even compare prices across multiple stores with ease.

However, the negatives do need to be taken into account before you go ahead and start credit shopping. As with all finance plans, you will have to pay back what you owe, and there is likely to be interest if you borrow for more than a month. Failing to make repayments can negatively affect your credit rating, thus making it more difficult and expensive to borrow in the future.

Improving Your Credit Rating

If you find yourself getting refused a credit account or credit card, or any other credit plan, it is likely that your credit rating is poor. To find out exactly what is causing this, it's a good idea to take out a credit report with one of the three main credit agencies.

This is the first step towards improving your credit score. Once you know what is causing the low rating you can start trying to fix it. Firstly, you will want to try to rectify any of the debts that are currently causing you to have a bad credit rating.

Once this is done, you may find it much easier to get accepted. Once accepted for a credit plan, make sure that each and every repayment is made on time. With every successful repayment, your credit rating will begin to climb.

What Credit Options are there?

There are two main credit options to choose from when buying on finance from an online electrical store. Not all stores offer both of these so be sure you read the terms and conditions to make sure you know what you're going to be getting.

Buy now pay later is a finance plan whereby you pay nothing for a set period. This is great for those who have just moved home or are waiting for pay day.

Spread the cost is the other finance plan where you pay back what you owe in installments. Most stores will allow you to pay in monthly installments but some are more flexible and will accept weekly, fortnightly or even quartely repayments.

Interest Free Periods & Interest Rates

One of the most important aspects of shopping on finance is the interest rate. Most stores will charge you interest on what you borrow from Day 1, whilst others tend to be more lenient and only start charging interest after the first month.

However, there are a few online stores that offer electricals on finance and even boast interest free credit! The interest free period can range from 3 months to 3 years depending on the store and cost of the item. Make sure you fully understand the terms and conditions before you buy anything on finance!

Top 5 Online Stores

Finding an online store that offers electrical products as well as finance options can be difficult. So, finding the best is, as you can imagine, even more troublesome.

However, we have found what we believe to be the best online options for someone looking for a laptop, tv, tablet or anything else electrical. We based our decision on the price of the products, the flexibility of the finance plans, the interest rates, their customer service, returns and their delivery options.

About Us

Our aim is to help UK customers who are looking to buy an electrical item on finance find what they want. We do this by offering reviews of products, services and the stores themselves so that our visitors can make informed decisions.